ITNL advances after receiving provisional completion certificate to operate a border checkpost

IL&FS Transportation Networks rose 1.42% to Rs 197.05 at 14:07 IST on BSE after the company said that its subsidiay company has received provisional completion certificate to commercially operate Ujjain-Jhalawar (M-3) border checkpost.

The announcement was made during market hours today, 13 April 2015.

Meanwhile, the S&P BSE Sensex was up 38.59 points or 0.13% at 28,917.97.

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 58,891 shares in the past one quarter.

The stock hit a high of Rs 198.70 and a low of Rs 196.10 so far during the day. The stock had hit a 52-week high of Rs 257 on 21 July 2014. The stock had hit a 52-week low of Rs 128.35 on 2 May 2014.

The stock had underperformed the market over the past one month till 10 April 2015, declining 7.37% compared with Sensex's 0.59% rise. The scrip had also underperformed the market in past one quarter, advancing 1.91% as against Sensex's 5.18% rise.

The mid-cap company has equity capital of Rs 246.72 crore. Face value per share is Rs 10.

IL&FS Transportation Networks said that its subsidiary MP Border Chekpost Development has been issue provisional completion certificate to commercially operate one more checkpost namely Ujjain-Jhalawar (M-3) border checkpost with effect from 10 April 2015.

On a consolidated basis, net profit of IL&FS Transportation Networks rose 17.5% to Rs 129.06 crore on 0.7% decline in net sales to Rs 1951.76 crore in Q3 December 2014 over Q3 December 2013.

IL&FS Transportation Networks is the largest BOT road asset owner in India in terms of length of road in its portfolio. The company has a diverse portfolio of projects in the surface transportation segment mainly in the PPP (Public Private Partnership) road sector. It acts as developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance. The company has also ventured into other transportation sub-sectors such as railways, urban transportation systems and border check-posts.

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